The Corporate Center

The first proposal was for a larger building on the southeast corner of Fourth and Demers (where the Sorlie Office Complex and a couple smaller buildings are located), along with two smaller buildings to replace the First Bank and First Financial Center buildings on the west side of Fourth at Demers.

Later, the plan was changed because of problems acquiring property on the east side of Fourth Street. The larger building was shifted to the southwest corner of Fourth and Demers in the new plan, with a smaller building on the northwest corner. A parking ramp next to the larger building was also planned.

The Corporate Center was controversial for a couple reasons. First was the use of five million dollars of federal Community Development Block Grant money towards the Corporate Center. Some wanted to see this money go toward replacing lost housing, improving flood protection, or otherwise meeting the needs of residents after the flood. Another source of controversy was the prices paid for some of the property used for the Corporate Center. The city paid about three times the previous appraised value for one of the buildings on the Corporate Center site.

Construction of the Corporate Center started in April, 1998. It should be completed in the fall of 1999. The major tenants will be the First National Bank, along with an accounting firm and a law firm. About 20 percent of the space is available for smaller businesses.

The former First National Bank building is being renovated by a private developer, and is not part of the Corporate Center project. Without the Corporate Center, however, it would have been more difficult to interest someone in investing in that building.

Rebuilding Downtown...

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  • County Office Building
  • Fourth and Demers
  • North Third Street
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